Sat Kartar Shopping IPO Review - Issue Date, Price, GMP, Subscription, Allotment, Lot Size, and Details

Sat Kartar is dedicated to offering Ayurvedic solutions addressing a spectrum of health concerns prevalent in contemporary lifestyles. The Company is devoted to advocating holistic well-being by leveraging natural remedies rooted in the ancient science of Ayurveda. The solutions provided are exclusively derived from Charak Samhita, an ancient Ayurvedic text renowned for offering comprehensive insights and remedies for various health and lifestyle challenges.

Sat Kartar Shopping, an Book Built Issue amounting to ₹ 33.80 Crores, consisting entirely an Fresh Issue of 41.72 Lakh Shares. The subscription period for the Sat Kartar Shopping IPO opens on January 10, 2025, and closes on January 14, 2025. The allotment is expected to be finalized on or about Wednesday, January 15, 2025, and the shares will be listed on the NSE SME with a tentative listing date set on or about Friday, January 17, 2025.

The Share price band of Sat Kartar Shopping IPO is set at  77 to ₹ 81 per equity share. The Market Capitalisation of the Sat Kartar Shopping Limited at IPO price of ₹ 81 per equity share will be ₹ 125.73 Crores. The lot size of the IPO is 1,600 shares. Retail investors are required to invest a minimum of ₹ 1,29,600, while the minimum investment for High-Net-Worth Individuals (HNIs) is 2 lots (3,200 shares), amounting to ₹ 2,59,200.

NARNOLIA FINANCIAL SERVICES LIMITED is the book running lead manager of the Sat Kartar Shopping IPO, while SKYLINE FINANCIAL SERVICES PRIVATE LIMITED is the registrar for the issue. Prabhat Financial Services Limited is the Market Maker of Sat Kartar Shopping IPO.

Sat Kartar Shopping Limited IPO GMP Today
The Grey Market Premium of Sat Kartar Shopping Limited IPO is expected to be ₹ 40 based on the financial performance of the company. No real trading is done on the basis of Grey Market Premium that's why no real discovery of price can be done before the listing of shares on the stock exchange. The Grey Market Premium totally depends upon the Demand and Supply of the shares of the company in unorganized manner which is not recommended. The Grey Market Premium is mentioned for educational and informational purposes only.

Sat Kartar Shopping Limited Day Wise IPO GMP Trend

Date

IPO Price

Expected Listing Price

GMP

Last Updated 

07 January 2025 ₹ 81 ₹ 121 ₹ 40 (49.38%) 03:00 PM; 14 Jan 2025

07 January 2025

₹ 81

₹ 97

₹ 16 (19.75%)

07:00 PM; 07 Jan 2025

 


Sat Kartar Shopping Limited IPO Live Subscription Status Today: Real-Time Update
As of 07:00 PM on 14th January, 2025, the Sat Kartar Shopping IPO live subscription status shows that the IPO subscribed 316.02 times on its Final day of subscription period. Check the Sat Kartar Shopping IPO Live Subscription Status Today at NSE.

Sat Kartar Shopping IPO Anchor Investors Report
Sat Kartar Shopping has raised ₹ 9.55 Crores from Anchor Investors at a price of ₹ 81 per shares in consultation of the Book Running Lead Managers. The company allocated 11,79,200 equity shares to the Anchor Investors. Check Full List of Sat Kartar Shopping Anchor Investor List.

Note:- Equity Shares allotted to Anchor Investors (if any) are allotted from Qualified Institutional Buyers (QIBs) reservation portion.
Note:- The Number of shares offered shown IPO subscription section table is calculated at the lower end of the price band and Number of shares calculated in IPO details table section is calculated at upper end of the price band in case of Book Building Issue, so there can be difference. This is because we assume shares will be issued by the company at upper band as Anchor Investors also subscribe at upper band and shares will be issued at lower band only if in case of undersubscription of IPO.
Note:- Market Maker portion (if any) are not shown separately in subscription table and included in NIIs reservation portion

Sat Kartar Shopping Limited IPO Allotment Date - Step by Step Guide to Check Allotment Status Online
Sat Kartar Shopping IPO allotment date is 15 January, 2025, Wednesday. Sat Kartar Shopping IPO Allotment will be out on 15th January, 2025 and will be live on Registrar Website from the allotment date. Check Sat Kartar Shopping IPO Allotment Status here. Here's how you can check the allotment status:
- Navigate to the IPO allotment status page.
- Select Sat Kartar Shopping Limited IPO from the dropdown list of IPOs
- Enter your application number, PAN, or DP Client ID.
- Submit the details to check your allotment status.
By following either of these methods, investors can quickly determine their allotment status and proceed accordingly with their investments.

Objectives of Sat Kartar Shopping Limited IPO
Sat Kartar Shopping proposes to utilise the Net Proceeds towards the following objects: 
1. ₹ 50,000.00 Thousand is required to
 meet out the expenses of Unidentified Acquisition (In India or Abroad);
2. ₹ 1,10,000.00 Thousand is required to meet out the expenses Marketing and Advertisement;
3. ₹ 80,000.00 Thousand is required to meet out the Capital Expenditure;
4. ₹ 50,000.00 Thousand is required to meet out the expenditure on Investment in Technology; and
5. To meet out the General Corporate Purposes

Refer to Sat Kartar Shopping Limited RHP for more details about the Company.

Sat Kartar Shopping IPO Details

IPO Date January 10, 2025 to January 14, 2025
Listing Date January 17, 2025
Face Value ₹10
Price ₹ 77 to ₹ 81 per share
Lot Size 1,600 Equity Shares
Total Issue Size 41,72,800 Equity Shares (aggregating up to ₹ 33.80 Cr)
Fresh Issue 41,72,800 Equity Shares (aggregating up to ₹ 33.80 Cr)
Offer for Sale NIL
Issue Type Book Built Issue
Listing At NSE SME
Share holding pre issue 1,15,72,076
Share holding post issue 1,57,44,876

Sat Kartar Shopping IPO Lot Size

Application Lots Shares Amount
Retail (Min) 1 1,600 ₹1,29,600
Retail (Max) 1 1,600 ₹1,29,600
B-HNI (Min) 2 3,200 ₹2,59,200
S-HNI (Max) 7 11,200 ₹9,07,200
B-HNI (Min) 8 12,800 ₹10,36,800

Sat Kartar Shopping IPO Timeline (Tentative Schedule)

IPO Open Date January 10, 2025
IPO Close Date January 14, 2025
Basis of Allotment January 15, 2025
Initiation of Refunds January 16, 2025
Credit of Shares to Demat January 16, 2025
Listing Date January 17, 2025
Cut-off time for UPI mandate confirmation 5 PM on January 14, 2025

Sat Kartar Shopping IPO Reservation

Investor Category Shares Offered Reservation %
QIB Portion 7,88,800 Not More than 50% of the Issue
Non-Institutional Investor Portion 5,92,000 Not Less than 15% of the Issue
Retail Shares Offered 13,79,200 Not Less than 35% of the Issue
Achor Investor Portion 11,79,200 Allotted from QIB Portion
Market Maker Portion 2,33,600 -

Sat Kartar Shopping IPO Promoter Holding

Share Holding Pre Issue 86.06%
Share Holding Post Issue 63.25%

Sat Kartar Shopping IPO Subscription Status

Investor Category Shares Offered Shares Bid For No oF Times Subscribed
Qualified Institutional Buyers (QIB) 7,88,800 10,06,51,200 127.60
Non Institutional Investors(NIIS) 8,25,600 48,00,11,200 581.41
Retail Individual Investors (RIIs) 13,79,200 36,53,82,400 264.92
Total 29,93,600 94,60,44,800 316.02

About Sat Kartar Shopping Limited

BUSINESS OVERVIEW

Sat Kartaer Shopping is an Ayurveda healthcare company committed to providing natural wellness solutions rooted in traditional knowledge and modern research. Specializing exclusively in Ayurveda, the company delivers high-quality, innovative products that promote healthier lifestyles.

With a focus on the Direct-to-Consumer (D2C) model, products are sold through its own website, e-commerce platforms, TV marketing, and digital channels. A contract manufacturing approach enables the company to prioritize product innovation, branding, and marketing while ensuring strict quality control over formulations.

Guided by the Charak Samhita, an ancient Ayurvedic treatise, and aligned with initiatives like the National Ayush Mission (NAM), the company addresses evolving consumer needs with authentic, holistic wellness solutions, paving the way for Ayurveda’s growing role in global health. As on November 30, 2024, the Company have total of 1,122 employees operating under various department. The Bankers of the Company is ICICI Bank Limited.

INDUSTRY ANALYSIS

INDIAN HEALTH AND WELLNESS INDUSTRY
The India health and wellness market size is expected to exhibit a growth rate (CAGR) of 5% during 2024-2032. The rising consumer awareness towards consuming a nutritional diet of fruits and vegetables, adopting an active lifestyle, and performing physical activities like running, walking, yoga, cycling, etc., is stimulating the market.

• Major Market Drivers: The rising participation of the masses across the country in several physical activities is bolstering the market. Moreover, the increasing number of sports and fitness training centers, coupled with the growing adoption of healing practices like naturopathy, is also stimulating the market.

Key Market Trends: The introduction of health monitoring devices, mobile apps, and wearable instruments is one of the emerging trends catalyzing the market in India. Additionally, the elevating popularity of wellness tourism, which comprises various activities, including visiting agricultural fields, practicing yoga, numerous recreational activities, meditating at destinations, etc., is further contributing to the market.

• Geographical Trends: West and Central India exhibit a clear dominance in the market, owing to the inflating number of health-conscious individuals who are actively demanding enhanced services and products that positively support their lifestyle choices.

• Challenges and Opportunities: Compliance with changing regulatory policies is one of the primary challenges hindering the market in the country. However, the increasing focus of key players on providing improved preventive care to consumers will continue to drive the market in the coming years.

India is becoming a favored destination for health tourism, attracting international patients seeking affordable and high-quality medical treatments, wellness retreats, and alternative therapies. India's medical tourism market is expected to reach US$ 14.31 Billion by 2029. According to India Tourism Statistics, around 634,561 foreign tourists came for medical treatment in India in 2023, which was nearly 6.87% of the total international tourists who visited the nation. Besides this, in July 2021, the Ministry of Tourism in India established the National Medical and Wellness Tourism Board to promote medical and wellness tourism in the country. Additionally, in July 2022, to enhance medical tourism in the country, the Government of India extended the e-medical visa facility to the citizens of 156 countries. Apart from this, the increasing number of wellness centers, including nature retreats, meditation centers, yoga schools, etc., is also positively influencing the India health and wellness market outlook. For instance, in August 2022, SDM Group introduced Kshemavana, a wellness and naturopathy retreat in Karnataka, India. Apart from this, in February 2024, the Chief Justice of India launched the AYUSH Holistic Wellness Centre at the Supreme Court premises in New Delhi. Additionally, the inflating popularity of healing practices like naturopathy is strengthening the market across the country. For example, in January 2024, the Union Minister of Ayush and Ports, Shipping & Waterways in India, along with the Chief Minister of Assam, laid the foundation stone of the Central Research Institute of Yoga and Naturopathy (CRIYN) in Dibrugarh, India.

Government bodies and key entities in the county are significantly investing in preventive healthcare measures, including vaccinations, regular health check-ups, wellness programs, etc., which is one of the India health and wellness market's recent opportunities. Under the Interim Union Budget 2024-25, the Ministry of Health and Family Welfare in India allocated INR 90,659 Crore, an increase of 1.69% compared to INR 89,155 Crore in 2023-24.

INDIAN AYURVEDIC PRODUCTS INDUSTRY
India Ayurvedic Products Market has valued at USD7.65 billion in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 18.4%  through 2029. The India Ayurvedic Products Market is a thriving and dynamic sector deeply rooted in the country's ancient tradition of Ayurveda, which emphasizes natural remedies, holistic well-being, and the balance of mind, body, and spirit. Ayurveda, often referred to as the "science of life," has been practiced for over 5,000 years in India and continues to play a significant role in the country's healthcare and wellness landscape.

Ayurveda, one of the world's oldest holistic healing systems, has its origins in ancient India. Its teachings and practices have been passed down through generations, and Ayurveda remains deeply ingrained in Indian culture and healthcare. In recent years, there has been a resurgence of interest in Ayurveda, both within India and internationally, driven by a growing preference for natural and traditional wellness solutions.

Ayurveda's rich heritage and deep-rooted cultural significance in India contribute to its enduring appeal. Many consumers trust Ayurvedic products as a reflection of their traditional wisdom. In addition, the global trend towards health and wellness has led to a renewed interest in Ayurveda's holistic approach to well-being. Consumers seek natural and herbal solutions to maintain their health and prevent ailments. Furthermore, increasing health consciousness and access to information have empowered consumers to explore alternative healthcare options like Ayurveda. The ease of online research has played a significant role in spreading awareness about Ayurvedic remedies.

The Ayurvedic Products Market encompasses a broad spectrum of offerings, including herbal supplements, skincare products, haircare products, dietary supplements, and more. This diversification caters to a wide range of health and wellness needs. Additionally, established Ayurvedic brands with a history of producing high-quality, authentic products hold significant trust among consumers. Reputation and adherence to traditional formulations are key factors driving brand loyalty.

The India Ayurvedic Products Market is a thriving sector deeply rooted in tradition and increasingly embraced by consumers seeking natural and holistic wellness solutions. As the market continues to evolve, it offers ample opportunities for innovation, quality assurance, and expansion both within India and on the global stage.


BUSINESS STRENGTHS

1. Emerging Brand with PAN India Presence : Sat Kartaer Shopping ensures product availability across India, with a significant portion of revenue in FY 2023-24 sourced from Tamil Nadu (18.44%), Uttar Pradesh (10.38%), Karnataka (8.34%), and Andhra Pradesh (7.13%). Deliveries extend to metropolitan areas and tier 1, 2, and 3 cities through established delivery partners.

2. Asset-Light Business Model : Operating on an asset-light model minimizes capital investment in assets, enabling a focus on key areas like marketing and customer satisfaction. This approach reduces liquidity risk and protects against market obsolescence.

3. Strong Digital Media Presence : A robust social media footprint includes over 10 active YouTube channels with a combined subscriber base of 1.3 million, ensuring effective engagement in the digital space.

4. Anonymity for Customers : To address the stigma around personal care and wellness issues like fertility and erectile dysfunction, the company ensures complete anonymity through discreet delivery options and offline payment methods, gaining a competitive edge in a growing market.

5. In-House Research and Development : An in-house R&D team led by BAMS-certified doctors oversees the development of formulations produced by contract manufacturers. This reduces dependency on third parties and safeguards against ethical risks, ensuring formulation integrity.

6. Clinical Trials for Efficacy : Products like Liv Muztang, Dr. Piles Free, and Dr. Madhu Amrit undergo clinical trials to validate efficacy, with reports published in the World Journal of Pharmaceuticals Research, bolstering customer trust and product credibility.

7. Well-Structured Logistics Process : Products are stored in climate-controlled warehouses in New Delhi, with inventory monitored via a Warehouse Management System (WMS). Timely delivery is ensured through prioritized dispatch based on order demands and geographic distribution


BUSINESS STRATEGIES

1. Product Line Expansion : The product portfolio is being diversified to address health concerns like slimming, hair care, gut health, PCOD, and mental wellness. This strategy, guided by market research, ensures relevance, accessibility, and premium quality to cater to a broader demographic.

2. Community Engagement Initiatives : Programs like Digital Anonymous for addiction and Lifestyle Transformation Community for diabetes aim to foster customer loyalty through support groups, educational resources, and interactive platforms, offering value beyond products.

3. Quality Assurance and Control : Strict quality standards are upheld through rigorous testing, certification, and sourcing ingredients from trusted vendors, with in-house and third-party oversight to maintain excellence.

4. Customer-Centric Product Development : A dedicated feedback and growth team ensures products align with customer preferences and wellness trends, leveraging insights to refine and develop offerings that balance quality and market demand.

5. Robust Marketing Strategy : A multi-channel marketing approach maximizes reach, brand awareness, and sales conversions across diverse consumer segments, enhancing overall impact and visibility


BUSINESS RISK FACTORS

1. Customer Dissatisfaction and Delivery Delays : End customers may experience dissatisfaction with products or delays in delivery, leading to potential loss of existing and potential consumers. Such instances could negatively impact revenue, profitability, cash flow, and brand reputation, even if external factors contribute to the undesired outcomes.

2. Exposure to Consumer Complaints and Litigation : Operating in the D2C segment increases vulnerability to consumer complaints due to product dissatisfaction, damage, or unfulfilled expectations. Unresolved complaints may result in litigation, fines, penalties, and damage to the company’s reputation, which could affect product sales and financial stability.

3. Revenue Concentration in Top 5 States : A significant portion of revenue—over 50% in recent years—is derived from Tamil Nadu, Uttar Pradesh, Karnataka, Maharashtra, and Andhra Pradesh. Adverse developments in these states could materially impact overall revenue and operational performance.

4. Formulation Ownership with Manufacturers : Product formulations are registered under the names of manufacturers rather than the company. This creates risks such as manufacturers claiming ownership, sharing formulations with competitors, or engaging in unauthorized commercial activities.

NOTE : Sat Kartar Shopping Company faces risks related to customer satisfaction, litigation exposure, revenue dependency on key states, and lack of ownership over product formulations. These factors could significantly impact financial performance, brand image, and market competitiveness if not effectively managed.

Sat Kartar Shopping Limited Financial Information (Restated Consolidated)

Amount in (₹ in Thousand)

Period Ended Dec 15, 2024 Mar 31, 2024 Mar 31, 2023 Mar 31, 2022
Reserve of Surplus 57,093.19 66,333.44 25,748.49 687.12
Total Assets 3,11,706.88 2,17,542.93 1,47,119.66 1,23,932.94
Total Borrowings 40,262.96 17,798.82 37,523.69 81,474.60
Fixed Assets 27,935.08 26,902.99 39,738.22 29,823.60
Cash 52,218.54 25,187.68 6,544.28 10,793.80
Net Borrowing -11,955.58 -7,388.86 30,979.41 70,680.80
Revenue 10,95,526.38 12,81,096.11 8,29,773.80 5,23,074.50
EBITDA 90,521.85 1,04,395.84 52,380.78 26,892.55
PAT 58,971.42 63,054.96 25,061.37 13,868.81
EPS 5.1 22.52 3.58 1.98

Note 1:- RoE, ROCE & RoNW calculation in KPI is based on 31st Mar, 2024 Data, given in RHP.
Note 2:- Pre EPS and Post EPS calculation in KPI is based (Profit/Loss for the Year) on 31st Mar, 2024 Data, given in RHP.
Note 3:- RoNW calculation in KPI is based on 31st Mar, 2024 Data, given in RHP.
Note 4:- Price to Book Value calculation in KPI is based on Cap Price after completion of an Offer, given in FINANCIAL EXPRESS.

Key Performance Indicator

KPI Values
EPS Pre IPO (Rs.) ₹22.52
EPS Post IPO (Rs.) ₹4.00
P/E Pre IPO 3.60
P/E Post IPO 20.23
ROE 66.84%
ROCE 91.55%
P/BV 2.50
Debt/Equity 0.19
RoNW 66.84%

Sat Kartar Shopping Limited IPO Peer Comparison

Company Name EPS ROCE ROE P/E (x) P/Bv Debt/Equity RoNW (%)
Sat Kartar Shopping Limited ₹ 4.00 91.55 % 66.84 % 20.23 2.50 0.19 66.84 %
Jeena Sikho Lifecare Limited ₹ 33.9 57.9 % 42.7 % 67.7 24.9 0.00 42.7 %
Kerala Ayurveda Limited ₹ 2.07 6.48 % -4.61 % 160 13.8 1.77 -4.61 %
Sat Kartar Shopping Limited Contact Details

SAT KARTAR SHOPPING LIMITED

603, 6th Floor, Mercantile House, KG Marg, New Delhi- 110001 India
Contact Person : Ms. Himanshu Malik
Telephone : +91-9319888634
Email ID : info@satkartar.in
Website : 
https://www.satkartar.co.in/

Sat Kartar Shopping IPO Registrar and Lead Manager(s)

Registrar : SKYLINE FINANCIAL SERVICES PRIVATE LIMITED
Telephone : 011-26812682
Contact Person : Mr. Pawan Bisht
Email ID : compliances@skylinerta.com
Website : 
https://www.skylinerta.com/

Lead Manager : NARNOLIA FINANCIAL SERVICES LIMITED
Telephone : +91-33- 40501500; +91- 8130678743
Contact Person : Mr. Pankaj Pasi
Email ID : pankaj.passi@narnolia.com; ipo@narnolia.com
Website : 
https://www.narnolia.com/

Sat Kartar Shopping IPO Review

Sat Kartar is dedicated to offering Ayurvedic solutions addressing a spectrum of health concerns prevalent in contemporary lifestyles. The Company is devoted to advocating holistic well-being by leveraging natural remedies rooted in the ancient science of Ayurveda. The solutions provided are exclusively derived from Charak Samhita, an ancient Ayurvedic text renowned for offering comprehensive insights and remedies for various health and lifestyle challenges.

The Company is led by Promoters, MR. MANPRIT SINGH CHADHA is a Chartered Accountant by profession, with experience of more than 30 years in the corporate and entrepreneurial realms, MR. PRANAV SINGH CHADHA has 7 years of experience in digital marketing have enhanced customer retention by implementing AI-driven remarketing approaches, and improved operational efficiency and MS. SIMRATI KAU has 4 years of experience in digital marketing.

The Revenues from operations for the period ended on Dec 15, 2024, Fiscals ended 2024, 2023 and 2022 were ₹ 10,95,526.38 Thousand, ₹ 12,81,096.11 Thousand, ₹ 8,29,773.80 Thousand and ₹ 5,23,074.50 Thousand respectively. The EBITDA for the period ended on Dec 15, 2024, Fiscals ended 2024, 2023 and 2022 were ₹ 90,521.85 Thousand, ₹ 1,04,395.84 Thousand, ₹ 52,380.78 Thousand, and ₹ 26,892.55 Thousand, respectively. The Profit after Tax for the period ended on Dec 15, 2024, Fiscals ended 2024, 2023 and 2022 were ₹ 58,971.42 Thousand, ₹ 63,054.96 Thousand, ₹ 25,061.37 Thousand, and ₹ 13,868.81 Thousand respectively. This indicate a steady growth in financial performance.


The Company Key Performance Indicates the pre-issue EPS of ₹ 22.52 and post-issue EPS of ₹ 4.00 for FY24. The pre-issue P/E ratio is 3.60x, while the post-issue P/E ratio is 20.23x against the Industry P/E ratio is 65x. The company's ROCE for FY24 is 91.55%, ROE for FY24 is 66.84% and RoNW 66.84%. The Annualised EPS based on the latest financial data is ₹ 6.8 and PE ratio is 11.91x. These metrics suggest that the IPO is fairly priced.

The Grey Market Premium (GMP) of Sat Kartar Shopping showing potential listing gains of 49.38%. Given the company's financial performance and the valuation of the IPO, we recommend Investors to Apply to the Sat Kartar Shopping Limited IPO for Listing gain.


Disclaimer: The information provided in this IPO review is for educational and informational purposes only and should not be construed as financial advice or an offer to buy or sell securities. The review must not be used as a singular basis of any investment decision. The views herein are of a general nature and do not consider the risk appetite or the particular circumstances of an individual investor; readers are requested to take professional advice before investing. Nothing in this document should be construed as investment advice. The content is based on publicly available information and market perceptions as of the date of publication and is subject to change. Neither the author nor the website is responsible for any losses or damages arising from the use of this information. 

About the Author

 CA Abhay Kumar (Also known as  CA Abhay Varn) is a qualified Chartered Accountant by profession and cleared CA at age 21. He is a SEBI Registered Research Analyst with Registration Number - INH300008465. He Possesses 8+ years of experience in the Stock Market Field and has also worked in Big CA firms during the training period. He is good at Technical analysis and Fundamental Analysis and uses both Technical and Fundamental analysis along with five other important factors that affect the movement of the Market namely Global Market Analysis, Upcoming Event Analysis, Institutional Money Analysis, Derivative Data Analysis, and Emotions and Sentiment of Traders and Investors in his Framework called - Technical Fundamental GUIDE to find the winning Trades.

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